 Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter! Related Links
|
Gaming News
Man Faces Jail Over Google Shares Scam18 May 2004NEW YORK -- As reported by the Associated Press: ``A Dutchman who pleaded guilty to swindling wealthy New Yorkers by promising an inside track to Google stock and then blowing $350,000 (£198,000) of their money in a three-month spending spree on hotels, restaurants and gambling, could face more than five years in prison, it emerged today. ``Late last year, as speculation grew that the internet search engine company would go public, Shamoon Rafiq began meeting investors in New York and telling them he was a venture capitalist and a college friend of Google's founders, prosecutors said. ``Mr Rafiq, who was working as a business development manager for British Telecom in the city, offered the lure of "preferred stock", available to the founders' friends and families at the pre-flotation price of $12 a share. ``…Authorities said Mr Rafiq had spent the funds on a lavish lifestyle, including New York nightclubs, strippers, $100 tips for restaurant and hotel employees, and expensive watches for his friends…" |